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Energia and Candy In Appliance JV
Dec 9, 2002
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Russia's Energia rocket and space corporation and Italian company Candy Elettrodomestici are setting up a joint venture for the production of household appliances.

The charter and constituent documents of the joint venture Energia Domestic Appliances were signed in Korolyov, in the Moscow region.

"The joint venture will produce Alpina-225 vacuum cleaners in the first stage," Energia President Yury Semenov said at the joint venture's presentation. Large-scale production of these vacuum cleaners is expected to begin next year. Energia is providing facilities for the production of vacuum cleaners, warehouses, etc. Candy Elettrodomestici produces technical documentation, parts and moulds. It is planned to produce the parts in Russia as production develops.

The organizers of the joint venture intend to improve the construction of vacuum cleaners each year. In accordance with the business plan, in four years the joint venture will produce some 250,000 vacuum cleaners annually. Energia's president said that in the future it is planned to produce other household appliances, in particular washing machines, refrigerators, and dishwashing machines. (Interfax)

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